This topic contains a solution. Click here to go to the answer

Author Question: Modern revenue management systems maximize revenue potential for an organization by helping to ... (Read 145 times)

stephzh

  • Hero Member
  • *****
  • Posts: 556
Modern revenue management systems maximize revenue potential for an organization by helping to manage
 a. pricing strategies.
  b. reservation policies.
  c. short-term supply decisions.
  d. All of the alternatives are correct.

Question 2

Nancy believes that the average running time of movies is equal to 140 minutes. A sample of four movies was taken, and the following running times were obtained. Assume the distribution of the population is normally distributed. 150 150 180 170
 a. State the null and alternative hypotheses.
  b. Using a critical value, test the hypothesis at the 10 level of significance.
  c. Using a p-value, test the hypothesis at the 10 level of significance.
  d. Using a confidence interval, test the hypothesis at the 10 level of significance.
  e. Could a Type II error have been committed in this hypothesis test?



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

meow1234

  • Sr. Member
  • ****
  • Posts: 333
Answer to Question 1

D

Answer to Question 2

a. H0:  = 140
Ha:   140
b. Reject H0, 3 > 2.353 . There is sufficient evidence at  = .10 to conclude that the average running time of movies differs from 140 minutes.

c. The p-value is approximately equal to .06 . Reject H0; .06 < 0.1 (same conclusion as part b)
d. 144.85 to 180.15; reject H0 (same conclusion as part b)
e. A Type II error could not have been committed since H0 was rejected.




stephzh

  • Member
  • Posts: 556
Reply 2 on: Jun 24, 2018
Wow, this really help


Chelseyj.hasty

  • Member
  • Posts: 319
Reply 3 on: Yesterday
Excellent

 

Did you know?

The U.S. Preventive Services Task Force recommends that all women age 65 years of age or older should be screened with bone densitometry.

Did you know?

Long-term mental and physical effects from substance abuse include: paranoia, psychosis, immune deficiencies, and organ damage.

Did you know?

Signs and symptoms of a drug overdose include losing consciousness, fever or sweating, breathing problems, abnormal pulse, and changes in skin color.

Did you know?

When Gabriel Fahrenheit invented the first mercury thermometer, he called "zero degrees" the lowest temperature he was able to attain with a mixture of ice and salt. For the upper point of his scale, he used 96°, which he measured as normal human body temperature (we know it to be 98.6° today because of more accurate thermometers).

Did you know?

The use of salicylates dates back 2,500 years to Hippocrates's recommendation of willow bark (from which a salicylate is derived) as an aid to the pains of childbirth. However, overdosage of salicylates can harm body fluids, electrolytes, the CNS, the GI tract, the ears, the lungs, the blood, the liver, and the kidneys and cause coma or death.

For a complete list of videos, visit our video library